Gulf construction remains resilient despite the Middle East conflict, but real estate developers are beginning to feel the impact as weaker investor sentiment and slowing sales weigh on the sector, S&P Global Ratings said.
The ratings agency said strong government infrastructure spending and ongoing megaprojects continue to support construction activity across the region, even as rising material costs squeeze contractors’ margins. By contrast, the full impact of the conflict on real estate is only now beginning to emerge, particularly in…
